It’s widely known by now that General Motors Co. is considering metro Atlanta for a software development center that could bring at least hundreds of high-tech jobs to the region.

Atlanta Business Chronicle reported Oct. 15 that GM’s Atlanta operation would be one of four IT innovation centers it plans to open in the United States.

GM’s search for a building to house all those high-paying jobs has been targeting the Georgia 400 corridor.

For the past few months, the company has toured numerous buildings along 400 in and around Alpharetta, Dunwoody, Roswell and Sandy Springs.

It’s possible GM will make a decision whether to locate the new operations in one of those areas by the end of the year, according to sources with direct knowledge of the search.

Exactly where GM lands depends in part on just how much space it will ultimately need.

For now, GM is looking at about 125,000 square feet, or several floors of office space, and the new center could employ more than 1,000 workers. That would give several building owners along Georgia 400 near the Perimeter a shot.

GM might find even more room for expansion farther north on Georgia 400 in Alpharetta, where several larger chunks of office space are available and where technology companies already drive most of the leasing activity, according to market data compiled by commercial real estate brokerage Jones Lang LaSalle Inc.

The ownership of Cobalt Center in Alpharetta has room to house GM, because AT&T Inc. vacated most of the 376,350-square-foot building when it consolidated operations into the company’s intown Atlanta campuses. Another building, 5405 Windward Parkway, once known as the Northern Telecom building, also has the space.

Another factor in GM’s decision could be the chance to locate in the region’s designated opportunity zones. A state program allows local governments to seek opportunity zone designation for any land located within or adjacent to an area with a poverty rate of 15 percent or higher. New or existing businesses inside an opportunity zone that hire at least two workers are eligible for an annual income tax credit of $3,500 for each job they create. The credits are good for up to five years, or $17,500.

Opportunity zones are scattered across metro Atlanta, including areas inside the city, Cobb County and Gwinnett County.

Along Georgia 400, though, opportunity zones include areas in Sandy Springs and Roswell.

“If it is an IT project and they are interested in metro Atlanta, they would definitely want to look in an Opportunity Zone,” said Betty McIntosh, a managing director with Cushman & Wakefield Inc.

The jobs GM could bring to Atlanta would probably qualify for Quality Jobs credits, McIntosh said.

Wages must be at least 10 percent higher than the average county wage where the jobs are being created. The companies must also create a minimum of 50 jobs within 12 months.

Securities Centre gets healthier

Almost a year after Securities Centre went back to its lender, leasing deals are picking up in the familiar Buckhead buildings.

Securities Centre has always generally enjoyed stable occupancy because of its location on Piedmont at the Lenox Loop.

Its struggles in recent years probably date back to when it was acquired in 2006, the apex of the commercial real estate value boom.

A couple of years later, Buckhead saw a building boom that added several new office towers.

When a major tenant moved out of Securities Centre, it was the final blow.

One Securities Centre’s owner, a tenant in common (TIC), tried to restructure the debt.

It also found it difficult to compete in the Buckhead office market, where concessions such as free rent and tenant improvement allowances had soared beyond the terms in ownership group’s original financing for the building.

Buckhead’s market has turned around, though, and so apparently has the outlook for Securities Centre.

LNR could continue to lease up the building and, as CWCapital has at its Tower Place 200 in Buckhead, eventually put Securities Centre back on the market for much more than it could have fetched a year ago.

Atlanta outlook brightens in 2013

Atlanta’s commercial real estate sector is poised to see greater investment activity in 2013, according to a new report from PricewaterhouseCoopers LLP and the Urban Land Institute.

Job growth is projected to increase2.6 percent and GMP, or Gross Metropolitan Product (the market value of all final goods and services produced within a metropolitan area) is predicted to rise to 2.9 percent in 2013, far exceeding the city’s 10-year average.

“We will see more activity in Atlanta in 2013 as job growth emerges,” said one investor in the real estate survey compiled by PricewaterhouseCoopers and ULI.

The improvements come on the heels of one of the worst downturns to ever hit Atlanta’s commercial real estate sector.

Median home prices sunk to less than $100,000 and may decline even further, according to the report.

Even so, there are signs of more investment, development and homebuilding.

The industrial sector is becoming more favorable to investors, too, because of expected increases in manufacturing, warehousing and shipping.

The report suggests that investors may still hold off on purchases of offices, hotels, and retail space, as vacancy remains high and job growth has not returned to pre-recession levels.

Carter’s to Buckhead

Atlanta-based children’s clothing retailer Carter’s Inc. is likely relocating its Midtown headquarters to Buckhead, according to sources familiar with the negotiations.

Carter’s has apparently committed to lease about eight floors at the 20-story Phipps Tower owned by Manulife Financial Corp.

The move would instantly give Carter’s headquarters much greater visibility. Phipps Tower rises next to the luxury mall Phipps Plaza and stands over Georgia 400 at Lenox Road. For now, Carter’s has more than 100,000 square feet, or several floors, in Midtown’s Proscenium building, also owned by Manulife.

There was already plenty of speculation that Carter’s would relocate to Buckhead. Much of that stemmed from recent discussions between building owners and Carter’s executives that the company needed more office space than originally thought when it first began locations. Manulife could not accommodate the company’s expansion at Proscenium.

Then on Oct. 11 Carter’s said it was consolidating its IT and financial operations in Shelton, Conn., with its Atlanta headquarters by the end of 2013. The decision could bring up to 200 more jobs to Atlanta over time, Carter’s said.

Vendormate expands in Buckhead

Vendormate is growing in Buckhead.

The software company that serves health-care providers and suppliers will occupy 22,806 square feet at Two Live Oak.

Vendormate has grown rapidly since its move out of Georgia Tech’s Advanced Technology Development Center (ATDC), where just a few years ago it occupied only 2,500 square feet. It employs about 120 in Atlanta, and could grow to at least 150 in coming years, said CEO Andy Monin.

It’s locked in to a long-term lease at Two Live Oak.

“This is our footprint and we’re digging in,” he said.

Vendormate chose to stay in Buckhead because of its central location and the nearby amenities at Phipps Plaza and Lenox Square appeal to its younger workers. The office on Peachtree Road is also near several hotels and MARTA’s Buckhead station, which its workers use for access to Hartsfield-Jackson Atlanta International Airport. Like others, the company is de-emphasizing the importance of cubicles in its new office layout.

It’s building out a combination of a coffee bar, lounge and waiting area where clients and employees can meet, discuss business and work on their laptops.